Why Saint Vincent and the Grenadines?
Advantages
- Absence of crypto regulation. Activity related to crypto assets does not require a license.
- Low business costs. Low corporate service costs, no requirements for a physical office, license fees and contributions can be an important advantage for businesses.
- Flexibility of corporate legislation. Ability to quickly register companies, no requirements for a capital contribution.
- Confidentiality. Information about the owners of the company and directors is not disclosed in public registers.
Restrictions
- Absence of an official license. The absence of a license negatively affects the recognition of a crypto project at the international level.
- Limited access to payment systems and banks. The inability to open a company account in local banks. The absence of a license may also make it difficult to open accounts in developed jurisdictions.
- Risks of changes in legislation. A law has been passed in the country introducing licensing of crypto projects, which has not yet come into force. The absence of a specific date of its introduction creates unpredictability and uncertainty for companies operating in this field.
Who is suitable for incorporation in Saint Vincent and the Grenadines
- Token issuers (ICO/IEO).
- Crypto exchanges and brokers.
- Crypto wallets and depositories.
- Payment services.
- DeFi protocols.
- NFT and GameFi startups.
Cost
The level of expenses for legalization in the jurisdiction is below average
- Registration fee for the company: USD 225
- Annual fee: USD 100
- Capital contribution: no requirements for its size.
Main stages of legalization
- Choosing a name and form of the company.
- Preparing documents and submitting an application for registration.
- Reserving a name.
- Formation of the founding documents.
- Submission of documents to the registrar and receipt of the registration certificate.